a. Except as provided in Section 18-2.04, every person or business entity engaged in any business for profit and any person or business entity that is required to make a filing with the Internal Revenue Service or the Kentucky Revenue Cabinet shall be required to file and pay to the City an occupational license fee for the privilege of engaging in such activities within the City. The occupational license fee shall be measured by 2.0% of:
1. All gross wages and compensation paid or payable in the City for work done or services performed or rendered in the City by every resident and nonresident who is an employee; and,
2. The taxable net profit from business conducted in the City by a resident or nonresident person or business entity, or thirty ($30.00) dollars, whichever is greater.
b. If any person or business entity dissolves, ceases to operate or withdraws from the City during any taxable year, or if any business entity in any manner surrenders or loses its charter during any taxable year, the dissolution, cessation of business, withdrawal, or loss or surrender of charter shall not negate the filing of returns and the assessment and collection of any occupational license fee for the period of that taxable year during which the person or business entity had business activity in the City.
c. If a person or business entity makes or is required to make a federal income tax return, the occupational license fee shall be computed for the purposes of this Subchapter on the basis of the same calendar or fiscal year required by the federal government, and shall employ the same methods of accounting required for federal income tax purposes.
(Ord. BG2020-23, 9/1/2020; Ord. BG2023-6, 5/2/2023)
Editor's Note: Any business subject to Subchapter 18-2 shall pay a net profit license fee of 1.85% until the end of its current fiscal year, and thereafter the 2.0% net profit license fee shall be in effect for all fiscal years beginning on or after January 1, 2024. All Employee Wage Withholding fees shall be 2% effective January 1, 2024.